Financial Aid Brochure 2020-21

FINANCIAL AID BROCHURE 2020 – 2021

TABLE OF CONTENTS

Important Steps in the Financial Aid Process

Federal Aid Program

State Aid

Institutional Scholarships

Additional Scholarship Opportunities

Scholarship Requirements

Federal Aid Requirements

IMPORTANT STEPS IN THE FINANCIAL AID PROCESS

1. Your Taxes Federal 2018 year tax information will be needed to complete your FAFSA.

Fill Out and Submit Your FASFA Go to studentaid.gov to complete the FAFSA.

Word of Life Bible Institute School Code: 011859 (for both NY and FL) Be sure to fill out the FAFSA with accurate information. Tax and Income information has to be exact for the FAFSA to be approved. Use the IRS Data Retrieval Tool (DRT) for faster processing. 2. Log Into Financial Aid Solutions When you submit an application for admissions, you will be assigned a Student ID Number. To log in, use your Student ID Number and click “first- time user” to establish a password. Keep these available for future use. Financial Aid Solutions ( wol.is/solution ) has everything you will need to complete your Financial Aid. For questions regarding Financial Aid Solutions, please contact the Financial Aid office at finaid@wol.org or 1.800.331.9673 . 3. Submit Requested Financial Aid Documents There may be additional required documents you will need to submit to the Financial Aid office to finish your Financial Aid process. Documents can be submitted at wol.is/finaidupload . You can find these documents listed under the “Documents” tab on Financial Aid Solutions ( wol.is/solution ). 4. Complete A Scholarship Application After you have submitted your FAFSA, you may submit a scholarship application, which can be accessed at wol.is/finaidapp . Give priority to the FAFSA process, as scholarships are not considered until it has been approved. 5. Complete Loan Steps After your FAFSA has been approved and your scholarships have been processed, you will have an accurate picture of your remaining financial need. You may accept or decline loans at this time. Additional instructions for the loan process will be provided in your College Financing Plan and on your Financial Aid Solutions account.

FEDERAL AID PROGRAM

Federal Pell Grant Federal Pell Grant eligibility is determined by the FAFSA. In the 2019- 2020 school year the award amounts ranged in value from $657-$6,195 .

Direct Loan Programs

Federal Plus Loan (Parent Loan) If you are a dependent* undergraduate student and your parents have an acceptable credit history, they can take out a PLUS Loan which allows them to borrow as much as needed to cover the cost of any education-related expenses. Your parents must complete a Federal PLUS Loan Agreement (MPN). The instructions and link to the application can be found at wol.is/financialaid . Federal Direct Subsidized And Unsubsidized Loans (Student Loans) To Receive Loan Funds, you must complete 3 steps: • Accept your Loan on Financial Aid Solutions • Complete Entrance Counseling • Complete Loan Agreement for a Subsidized/Unsubsidized Loan (MPN). Loans must be repaid. Our office will provide you with instructions for completing the loan process once your FAFSA and all requested paperwork are complete. If you are a dependent* undergraduate student, you can borrow up to: • $5,500 if you are a first-year student • $6,500 if you are a second-year student

If you are an independent* undergraduate student or a dependent student whose parents have applied for but were denied a PLUS Loan

(a parent loan), you can borrow up to: • $9,500 if you are a first-year student • $10,500 if you are a second-year student

*Dependency status is determined by the FAFSA. Please check with the Financial Aid office prior to completing loan applications from other sources.

Federal Supplemental Education Opportunity Grant (FSEOG) This is an additional grant intended to help financially needy students. The government has allocated limited funds to Word of Life Bible Institute to distribute. FSEOG will be awarded automatically by the Financial Aid office, first to eligible students who are receiving a Pell Grant. If additional funds remain, they will be awarded to students who did not receive a Pell Grant but are otherwise eligible until funds are depleted. Awards vary from $600 - $1,500 . Federal Work Study (FWS) This is an opportunity for students to earn extra funding for school. Students are accepted based upon financial need – Expected Family Contribution (EFC) below $10,100, acceptable academic history, and the ability to excel in the selected employment area. Some positions involve community service, while other positions are available on campus. Federal Regulations require these funds to be applied to the student’s cost of attendance, and positions are limited by federal funding. Students average up to $1,000 earnings per year. This is dependent on the number of hours worked and hourly pay. Students will find the application on Financial Aid Solutions ( wol.is/solution ) under “Forms,” when available. New York Campus Summer Work Program Selected students arrive in mid-August and earn minimum wage during the five weeks prior to school registration. Room and board costs are covered during the SWP. For more information contact the New York Financial Aid office at finaid@wol.org or 1.800.331.9673 . Florida Campus Summer Work Program Selected students arrive in mid-August and earn minimum wage during the three weeks prior to school registration. Room and board costs are covered during the SWP. For more information contact Andy Mater at 727.379.5030 or andymater@wol.org .

STATE AID Word of Life Bible Institute is eligible to receive state-awarded funds from the following state grants: Vermont, Rhode Island and Florida. Word of Life Bible Institute is not eligible for the New York State Tuition Assistance Program. Your state may offer grants for students who will be attending college out of state. Word of Life Bible Institute is eligible to receive funds from these four programs: Adult Career and Continuing Education Services (ACCES VR), New Jersey and Delaware Vocational Rehabilitation, or Florida Bright Futures Program.

Students should contact their state’s Higher Education Authority or their high school guidance office for information on applying for these programs.

Florida Bright Futures Word of Life Florida Bible Institute students are eligible for the Bright Futures Program. Awards will be based on individual eligibility as determined by the state.

INSTITUTIONAL SCHOLARSHIPS In order for scholarships to be awarded, the Word of Life Bible Institute Scholarship Application must be submitted to the Financial Aid office no later than May 31, 2020. The application can be accessed at wol.is/finaidapp . Many institutional scholarships may be combined to help offset student expenses. Institutional scholarships are subject to an $8,000 cap, unless otherwise noted. Any scholarships exceeding this amount will be reduced. Funds from external sources (including grants, loans and Federal Aid) and certain discounts do not fall under this cap. To maximize your opportunities, apply early!

Please visit wol.is/financialaid for the most up-to-date information about scholarships.

Academic Scholarship First-Year Students are considered for a scholarship based on their SAT, ACT, or CLT score. The scholarship is calculated off the highest cumulative score of a single test attempt. Qualifying students must have an earned cumulative GPA of 3.0 or higher based on a Final Official High School Transcript. A Weighted GPA will only be considered if it is listed on the Students Final Official Transcript. An official copy of test scores (sent directly from The College Board, ACT, or Classic Learning Initiatives to Word of Life Bible Institute) must be submitted to the Admissions Office prior to the May 31, 2020 Scholarship deadline. Funds are limited, and applicants will be awarded as funding remains available.

SAT

ACT

CLT

AWARD

1020-1120

20-22

66-73

$500

1130-1230

23-25

74-80

$1,000

1240-1340

26-28

81-88

$1,500

1350-1440

29-31

89-96

$2,000

1450-1550

32-34

97-106

$2,500

1560-1600

35-36

107-114

$3,000

Who Qualifies: National and International Freshmen

Second-Year Students are also considered based on an earned cumulative GPA of 3.0 or higher upon completion of their freshman year at a TRACS-accredited Word of Life Bible Institute Campus or teaching site (Summer Ministry grade is excluded).

GPA

AWARD

3.0-3.29 3.30-3.79

$1,000 $2,000

3.80-4.0 $3,000 Who Qualifies: National and International Sophomores

Church Matching Scholarship Word of Life Bible Institute will match up to $1,000 per year for each full- time student enrolled in the Word of Life Bible Institute program. A church official must submit the Church Matching Scholarship form available at wol.is/churchmatch , along with a check payable to Word of Life Bible Institute. The final deadline for students who begin attendance in the Fall Semester is the day of Fall Registration. The final deadline for students who begin attendance in the Spring Semester is the day of Spring Registration. Donations/scholarships are only accepted from churches and will only be matched one time. Personal checks and payments from other sources will not qualify for matching funds. Church-matching scholarships sent in after the deadlines will still be applied to the student’s account but will not be matched. The contribution from the church does not count towards the $8,000 cap. Who Qualifies: National and International Freshmen and Sophomores Confirmation Scholarship Upon acceptance to Word of Life Bible Institute (NY or FL), your $250 Confirmation Fee is required. Word of Life Bible Institute will “match” your $250 payment with one of the Confirmation Scholarships (see next page) if received by the deadline date or within 48 hours of acceptance. It will be applied to the student’s account toward tuition. The confirmation deposit is nonrefundable after May 1, 2020.

FALL 2020

SPRING 2021

Confirmed By October 1, 2019 November 1, 2019 December 1, 2019 February 1, 2020

Received

$750 $650 $550 $450 $350 $300

Amounts and Dates TBD. Please Visit wol.is/financialaid for the most

up-to-date information.

March 1, 2020 April 1, 2020 May 1, 2020

$250 Who Qualifies: National and International Freshmen

Dependency Scholarships

Adjunct Faculty Dependent Scholarship The dependent of an Adjunct Faculty member who has a teaching commitment and has taught for a minimum of one year at Word of Life Bible Institute may qualify for this scholarship. Please contact the Financial Aid office for more information. This scholarship is not subject to the $8,000 institutional cap. Who Qualifies: National Freshmen and Sophomores Alumni Dependent $1,000 The dependent of a Word of Life Bible Institute Alumnus may qualify for this scholarship. Cannot be combined with referral awards. Who Qualifies: National and International Freshmen Pastor or Missionary Dependent $1,000 The dependent of a full-time missionary or a father who is a pastor may qualify for this scholarship. Who Qualifies: National and International Freshmen Staff Dependent Scholarship The dependent of a full-time staff member who has been employed full-time for at least a year may qualify for this scholarship. Please refer to page 27 of the Staff Handbook for more details. This scholarship is not subject to the $8,000 institutional cap. Who Qualifies: National and International Freshmen and Sophomores

Encouragement Awards These awards are designed to assist in the recruitment of new applicants to Word of Life Bible Institute. Encouragement award amounts cannot be combined with each other or the Alumni Dependent Scholarship. Awards vary from $500 to $1,000. Alumni Encouragement $500 This scholarship is designed to equip a certified Word of Life Bible Institute Alumnus to encourage a potential student to attend Word of Life Bible Institute. Who Qualifies: National and International Freshmen

Pastor Encouragement $500 This scholarship is designed to equip a pastor to encourage a potential

student to attend Word of Life Bible Institute. Who Qualifies: National and International Freshmen

Refer A Friend Encouragement $500 This scholarship is intended to assist the efforts of an applicant or current student in recruiting a new applicant to attend Word of Life Bible Institute. Both the referrer and referred will get a $500 scholarship when the referred student enrolls. The referrer award can be stacked if multiple referred students enroll. Who Qualifies: National and International Freshmen and Sophomores Staff Encouragement $500 This scholarship is designed to equip an Adjunct Faculty or Staff Member to encourage a potential student to submit an Application to Word of Life Bible Institute. Who Qualifies: National and International Freshmen International Teaching Site Scholarship $1,000 This scholarship is for students who have completed the First-Year program at a TRACS-accredited International Teaching site of Word of Life Bible Institute. Students who have maintained a minimum GPA of 3.0 will be eligible to receive this scholarship. This scholarship will be applied towards completion of the Second-Year program at the New York Campus. Who Qualifies: International Sophomores

Local Church Ministries Scholarships Cre8tive Discipleship, Steadfast, and Engage Awards received from programs within the United States may all be combined to a maximum of $3,500 per single academic year. Amounts exceeding $3,500 may be held in reserve to be applied to the Sophomore year. Original certificates of completion/placement must be submitted to the Financial Aid office by either uploading with the Financial Aid Application or through other means immediately following submission of the Financial Aid Application. Who Qualifies: National Freshmen Steadfast Award Scholarship Awarded based on successful completion of the Steadfast Award and approval by Word of Life Local Church Ministries. Cre8tive Discipleship Scholarship (C8) Awarded based on successful completion of the C8 programs and approval by Word of Life Local Church Ministries. Engage Scholarship Awarded for 1st, 2nd or 3rd place in one or more categories of Word of Life Local Church Ministries Senior High Engage regional competition or the former Teens Involved International competition. Leadership Development $1,000 A Word of Life Local Church Missionary certifies a potential student in consideration of the student’s leadership potential.

Ministry Partner Scholarships

Helping Hands Foreign Missions Scholarship $1,000 High School Juniors and Seniors who have successfully completed an international missions trip with Helping Hands and have been given a positive reference from the team’s trip leader will be eligible for this scholarship to Word of Life Bible Institute. Who Qualifies: National and International Freshmen Keswick Christian School Ministry Leadership Institute Graduates of Keswick Christian School Ministry Leadership Institute can qualify for a 25% tuition discount. To be eligible, a student must provide proof of their successful completion of the four-year program or their participation since the inception of the program in 2016. Who Qualifies: National Freshmen Score International Scholarship $1,000 High School Juniors and Seniors who have successfully completed an international missions trip with SCORE and have been given a positive reference from the team’s trip leader will be eligible for this scholarship to Word of Life Bible Institute. Who Qualifies: National and International Freshmen Student Leadership University Scholarship $2,000 Those who have successfully completed the Student Leadership University 101 can qualify for this scholarship. A certificate of completion must be submitted to qualify. Please visit wol.is/financialaid for more information. Who Qualifies: National and International Freshmen Student Ambassador Scholarship $1,000 Students accepted in the program will receive this scholarship. The goal of the program is to utilize the most dynamic students on campus who have a desire to serve in a leadership position by representing the school. An Ambassador has a heart to share about Word of Life Bible Institute with others and is a liaison between the prospective and/or current student and the Institute. Who Qualifies: National and International Freshmen at the Florida Teaching Site

Student Leadership Scholarship $3,000 This scholarship is awarded to students who apply and are selected for the Student Experience Program or Resident Assistant position. Positions vary and are limited; apply early for priority consideration. Selection is based on interviews with staff, abilities, and Christian character. Students must maintain the Standard of Academic Progress and must complete all criteria as outlined on the Student Leadership Application. Students must attend training two weeks prior to Registration. For more information and to apply, visit wol.is/studentleadership . Who Qualifies: National and International Freshmen and Sophomores Summer Ministry Scholarships $1,500 - $4,000 These scholarships are given to students who have successfully completed a Summer Ministry with Word of Life. The award is made based on the student’s participation in one of the following Summer Ministries. Camp Crew $1,500 - $4,000 Awarded to freshmen students who have successfully completed Word of Life’s Camp Crew/STC program at one of the five USA camps during the summer following their Junior or Senior year of high school. The amount awarded to a Junior is $1,500 and a Senior is $2,500. Students who complete both Junior and Senior summers in the camp crew program will be able to combine both awards for a total of $4,000. Awards are based on the completion of a full summer at camp. Please visit wol.is/campcrew for more information. Who Qualifies: National Freshmen Summer Institute of Camping $2,000 Awarded to Bible Institute sophomores who have successfully completed their Bible Institute Freshman Summer Ministry and have committed to completing their Sophomore Summer Ministry at an authorized Word of Life Camp or Ministry at the approval of the Camp Director. Who Qualifies: National and International Sophomores

Student Fusion $1,500 - $4,000 Awarded to students who have participated in Word of Life’s short- term mission trips during the summer following their Junior or Senior year of high school. The amount awarded is $1,500 for the summer following their Junior year and $2,500 for the summer following their Senior year. Please visit wol.is/studentfusion for more information. Who Qualifies: National and International Freshmen Putzer Scholarship $1,000 This scholarship is awarded at the discretion of The Pines Director to one student who excelled in the Camp Crew program. Who Qualifies: National Freshmen Supplemental Assistance Scholarship $250 - $2,500 This scholarship is made possible through the generosity of donors desiring to make an investment in the lives of students. It enables them to benefit from a year of Bible study leading to personal growth and ministry impact. Limited funding is provided to meet exceptional needs, generally due to financial constraints that would prevent attendance at Word of Life Bible Institute. The FAFSA is used to assess the family’s ability to meet the financial requirements of the school. Each category has additional stipulations. Both the Scholarship Application and Supplemental Assistance Pastoral Reference must be submitted to be considered for potential supplemental assistance eligibility and Expected Family Contribution (EFC) below $10,100.

Supplemental Assistance Is Awarded In Three Potential Categories:

The Legacy Grant Provides assistance to eligible students from middle income families. The Wyrtzen Scholarship Provides assistance to students with significant financial need. Florida Christian Servant Award Provides assistance to students at the Florida Campus with significant financial needs.

Worship Arts Scholarship $1,000 Applicants are considered for a scholarship based on exceptional ability and talent in the area of vocal or musical presentation. To apply at the New York Campus, contact Ryan Arnold at ryanarnold@wol.org . To apply at the Florida Campus, contact Ethan Warren at erwarren@wol.org . The approval process consists of an interview and an audition. Approved applicants will serve on a music-based ministry team and will receive this scholarship. Scholarship Funds are limited. The application deadline is August 31, 2020. Who Qualifies: National and International Freshmen and Sophomores

West Coast Resident $1,000 Residents of California, Oregon or Washington may qualify for this scholarship. Who Qualifies: National Freshmen and Sophomores

ADDITIONAL SCHOLARSHIP OPPORTUNITIES ACSI International Student Scholarship $1,000 - $5,000 This scholarship is designed to assist students graduating from selected ACSI (Association of Christian Schools International) schools outside the United States. To qualify, an applicant must be an International Student graduating from an ACSI school. United States citizens are not eligible for this scholarship. Applicants will be considered upon completion of their Application to Attend along with their International Student Scholarship Application form and the required Financial Support documents. Awards range from $1,000 up to $5,000 for eligible students based on financial circumstances. Other scholarships may apply, but total scholarships may not exceed the cost of tuition. Who Qualifies: International Freshmen

Board of Directors Award $1000 Each member of the Word of Life Board of Directors is given a $1,000 Scholarship to assist in recruitment of students. This scholarship is not subject to the $8,000 institutional cap. Who Qualifies: National Freshmen President’s Council Award $500 Each member of the Word of Life President’s Council is given a $500 Scholarship to assist in recruitment of students. This scholarship is not subject to the $8,000 Institutional cap. Who Qualifies: National Freshmen Tuition Remission Word of Life Partners with Several Ministries with Tuition remission agreements. Please check with your ministry leaders to see if they have a partnership agreement on file with Word of Life. Veteran’s Benefits Word of Life is eligible for the training of veterans. The dependents of 100% disabled veterans are also eligible to receive benefits. At this time only the New York Campus is approved to receive VA benefits. Please contact the Financial Aid office with questions related to VA benefits. Who Qualifies: National Freshmen and Sophomores

SCHOLARSHIP REQUIREMENTS Requirements Students are expected to maintain a GPA consistent with the Standard of Academic Progress (see next page). Failure to do so may jeopardize scholarships that have been awarded. Students are expected to meet all their financial obligations to Word of Life Bible Institute. How To Apply All students are considered for scholarships based on the answers provided on their Scholarship Application and the FAFSA. If you have any questions regarding scholarship applications, contact the Financial Aid office at finaid@wol.org or 1.800.331.9673 . Incomplete applications will not be considered. Students who do not submit an application are not considered for scholarships.

The Scholarship Application can be accessed at wol.is/finaidapp .

Distribution As a general rule, scholarships are divided equally in each payment period (semester) with limited exceptions. Eligibility Students who meet the scholarship criteria are awarded funds as they are available. The Financial Aid office will review scholarship applications and will distribute awards based on the availability of funds, whether the scholarship criterion has been met, the most significant need, and the order in which the scholarships were received.

FEDERAL AID REQUIREMENTS

Requirements Shortly after Registration, student accounts will be charged for room, board, tuition, and fees. Institutional scholarships will be credited at that time. Pell Grant and Loan disbursements are posted as funds are received from the Department of Education. Students should make every effort to complete the FAFSA well in advance of Registration to ensure federal funds (e.g. Pell Grants and Direct Student Loans/PLUS Loans) arrive promptly. If awarded aid is not posted on the monthly statement, the Financial Aid office should be contacted immediately. Loan Counseling Federal regulation requires that students who take out a Federal Stafford Loan complete both entrance and exit loan counseling. The entrance counseling must be completed before any loan disbursements can be credited to the student’s account. The exit counseling serves to inform students about repayment of their loan. If loan repayment is not managed properly, the student can go into default which will affect their credit rating, eligibility for further financial aid, and may result in garnishment of wages and future tax refunds. These counseling sessions inform the student of his/her rights and responsibilities as a borrower. Loan Agreement The Subsidized/Unsubsidized Master Promissory Note (MPN) is a legal document in which you promise to repay your federal student loan(s) and any accrued interest and fees to your lender or loan holder. There is one MPN for Direct Subsidized/Unsubsidized Loans and a different MPN for Direct PLUS Loans. Most schools are authorized to make multiple federal student loans under one MPN for up to 10 years. Standard Academic Progress Students who receive Federal Title IV Aid (e.g. Pell Grant and/or Federal Loans) must maintain a GPA consistent with the Standard of Academic Progress (SAP). A student must also successfully complete (“D” or better in each course) the clock hours in a payment period in order to progress to the next period and be eligible for additional Title IV funds. SAP is evaluated

after successful completion of 15 weeks of coursework for freshmen students. A student progressing as a sophomore will be evaluated at 30 weeks and again at 45 weeks. Please see the Student Handbook for additional details. A student whose cumulative GPA falls below the SAP will lose their right to receive further Federal Title IV Aid. A student may regain this privilege by raising their GPA in a subsequent period. In this case, a Student Direct Loan or PLUS Loan may be applied retroactively for the prior period in which the grades improved. A Pell Grant may not be reinstated retroactively. Deadlines Unless otherwise noted, the deadline for completed FAFSA documentation and the general scholarship application is May 31, 2020. Scholarship Applications cannot be processed until the FAFSA is completed. Some scholarships have limited funding. Applications received by this deadline will receive preferred funding status.

Applications received after the deadline and/or funding has expired may be declined.

Disclosure All schools operate their Financial Aid processes differently. Please be sure to follow all instructions and recommendations as outlined in our Financial Aid material.

Institutional scholarships may not exceed $8,000.

Students who receive financial aid will be sent a College Financing Plan for the award year. The College Financing Plan details how much financial aid is being applied in the award year.

Financial Aid Office 1.800.331.9673 | WOL.IS/FINANCIALAID

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